CohnReznick guides successful restructuring and sale of Coordinated Health
(February 3, 2020 – New York, NY) – A restructuring advisory team recently achieved a monumental success in the restructuring, workout and sale of Allentown, PA-based Coordinated Health (CH). The assets of CH were sold to Lehigh Valley Health Network (LVHN) through an out-of-court transaction that provides protection for more than 1,300 jobs, and preserves and bolsters a nationally ranked orthopedics program. In addition, the restructuring and sale avoided a bankruptcy filing, converted eight weeks of cash to eight months, and resulted in a positive outcome for all stakeholders, including 10 secured lenders, over 800 unsecured creditors, employees, vendors, litigants, and the U.S. Department of Justice. CohnReznick will work with the seller to complete the winddown of the CH entities as well as work with LVHN to support the post-acquisition transition and integration activities.
Read the official Lehigh Valley Health Network release here.
Subject matter expertise
CPA, JD, CIRA, CFF, CTP, Global Director, Restructuring and Dispute Resolution Practice
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